We present an informational overview of the Bitcoin-based Tech Company, Riot Blockchain. With in-depth historical data, insights, and information about the publicly listed Company and RIOT stock.
Riot Blockchain Inc.
Riot Blockchain is a Bitcoin-based technology company that specializes in large scale Bitcoin mining. They are currently expanding their Whinstone location, the largest Bitcoin mining facility in all of North America.
They are most notable for being one of the largest market gain/spread of a publicly listed Crypto company when RIOT reached an low under $1 in the flash crash of March 2020 and skyrocketed to an accelerated all-time high of $78.75 per share in April of 2021.
Riot Blockchain Pros
- Most powerful single site Bitcoin-Mining Facility in North America
- Has over 46,000 Active BTC miners and more under construction
- Mining Facility is Located in Texas, where energy costs are lower
- Has diversified Data Mining & Hosting revenues
Riot Blockchain Cons
- Highly reliant on Bitcoin and cryptocurrency ecosystems
- Riot’s BTC reserves aren’t as large as competing trusts and companies
- Mining Facility is Located in Texas in an area that is prone to hurricanes and intense weather that has affected the power grid
Riot Blockchain Price Chart
Riot Blockchain Historical Price Chart
Whinstone Bitcoin Mining Facility
Located Rockdale, Texas, the Whinstone Facility is an energy intensive Data mining Center that focuses solely on technology used to mine Bitcoin. The location holds vast arrays of Application Specific Integrated Circuit (ASIC) Miners that are specially designed to maximize the Bitcoin Hash Rate.
As of 2022, Riot Blockchain is expanding their Whinstone location to more than Double its Mega watt power and Triple its current Hashrate from just over 4 Exahash per second (EH) to 12.6 EH by 2023.
Coriscana Bitcoin Mining Facility
Riot Blockchain has begun developing their most ambitious facility, Corsicana. Intended to achieve a Wattage level of over 1 Gigawatt (1,000 MegaWatts) and become the largest Bitcoin mining operation in the World.
Based in Navarro County, Texas, the Corsicana’s ambitious Bitcoin Mining Operation is designed to achieve a hashrate of 41 EH/s.
Riot Blockchain Adapts to Crypto Winter
Riot has taken some selective actions to brace for the decline of the cryptocurrency industry. After the extended crypto crash in 2022, Riot Blockchain has doubled its on hand cash and sold diluted stock in order to maintain a solid financial foundation.
Riot Blockchain detailed the exact numbers on their Q2 Quarterly Report 2022
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